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Col Umar Threatens Legal Action Against Glo

Former Military Governor of Kaduna State, Colonel Abubakar Dangiwa Umar (rtd) has threatened to take legal action
against Glo, one of Nigeria’s major telecoms service providers.
Umar disclosed this Wednesday afternoon after receiving several unsolicited subscription alerts and deductions of money from his Glo line.
He forwarded some of the unsolicited subscription alerts he received. One of the alerts reads: “Dear customer, your Jokes tips subscription alerts will be renewed on 2018-03-22 00:00:00 . You will be charged N100 for 1 month. To
deactivate SMS Unsub joke to 577. Thank you.”
Another alert sent to Umar’s phone reads: “Dear customer, your SMS WIKI tips subscription alerts has been
renewed for 100.00 NGN till 2018-04-11 00:00:00. To deactivate SMS STOP WIKI to 577. Thank you.”

Umar said he will ask his lawyers to press charges against Glo if they failed to discontinue these unsolicited subscription alerts.
Many Nigerians have been complaining about the unsolicited  alerts by telecoms firms in Nigeria. One subscriber said “if a telecoms firm deducts N100 from one hundred thousand subscribers, that will amount to a huge sum of
money fraudulently stolen from Nigerians for just one unsolicited alert.”
It could be recalled that Colonel Umar had some time ago decried similar unsolicited subscription alerts by another telecoms giant, MTN.

IG Removes Kogi CP Over Escaped Suspects

IGP, Ibrahim Idris

The Inspector-General of Police (I-G), Mr Ibrahim Idris, has ordered the immediate removal of the Commissioner of Police in Kogi, Mr Ali Janga.

A statement by the Force Spokesman, ACP Jimoh Moshood, issued in Abuja on Wednesday, said the removal followed the escape from custody of two principal suspects and four others whose confession indicted Sen. Dino Melaye.

The suspects are : Kabiru Seidu, a.k.a Osama, Nuhu Salisu, a.ka small, Aliyu Isa, Adams Sulieman, Emmanuel Audu and Musa Mohaamed.

Moshood said that the I-G had directed CP Esa Ogbu, the commissioner in charge of Federal operations at the Force Headquarters, to take over as the new Commissioner of Police in Kogi.

The spokesman said that 13 police officers involved in the escape of the suspects had been detained.

He said that the Commander in charge of Federal Special Anti Robbery Squad ( FSARS ) in the state, the DPO of A Division, Lokoja, and other officers implicated in the escape had been transferred out of the state.

The News Agency of Nigeria ( NAN) reports that the suspects were to appear on Wednesday at the Federal High Court, Lokoja, in a case of conspiracy and unlawful possession of prohibited firearms.

NAN also reports that the suspects had implicated Melaye and Alhaji Mohammed Audu during their confessions.

Police Declare Dino Melaye, Seven Others Wanted

The Kogi State Police Command has declared the senator representing Kogi West, Senator Dino Melaye, and seven others wanted.

Commissioner of Police in the state, Mr Ali Janga, made the announcement in a statement personally signed by him on Wednesday in Lokoja, the state capital

According to him, others declared wanted are one Mohammed Audu and six suspects who escaped from police custody in the state capital.

The fleeing suspects are Kabiru Seidu (nicknamed Osama), Nuhu Salisu (nicknamed Small), Aliyu Isa, Adams Suleiman, Emmanuel Audu and Musa Mohammed.

“Four of the suspects were on court remand, including two that indicted Senator Dino Melaye and Mohammed Audu.

“Consequently, all the six suspects, Senator Dino Melaye and Mohammed Audu were sent for watchlisting and red notice by the INTERPOL for immediate arrest anywhere we see them,” Janga said in the statement.

He further appealed to the members of the public to assist the police with useful information on the whereabouts of the suspects by reporting to the nearest police station.

The police commissioner noted that Investigation into the jailbreak is ongoing while the 13 police officers who were on duty when the incident occurred have been detained for interrogation.

He urged members of the public to go about their lawful duty, adding that the command is committed to ensuring adequate security of lives and property in the state.

The Force Public Relations Officer, Jimoh Moshood, had paraded the two suspects on March 19 who said they were part of an armed gang terrorising residents of the state.

Moshood had revealed that the suspects were arrested with a cache of arms which they claimed had been supplied to them by Senator Melaye.

The lawmaker has since denied the allegations, saying it was “a gang up to silence me.”

Problems Of Nigeria Are OBJ, IBB, TYD, AAA, PJG, Et Al, By Yusuf Ozi-Usman

Like a ray of sun emerging from the morning dew, the trouble with Nigeria; that has held it down from forging ahead in developmental stride, is coming out somewhat gradually. The gradual emergence of the ‘trouble with Nigeria’ is turning out as a big surprise to many who had all along taken certain variations for granted.

Of course, with the recent open and unabashed declaration of war, via what clearly was HATE SPEECH, in Taraba state, by the former Nigerian Defence minister, retired Lt. General Theophilus Yakubu Danjuma (TYD), the country is discovering its enemies, most of who incidentally participated in executing the civil war to keep it united. In fact, it is now easy for one to place T. Y Danjuma among the past leaders of the country that are out to destroy this House for reasons that mostly border on selfishness, bigotry, superiority complex and haughtiness.

Indeed, T.Y Danjuma has joined the group made up of their Monitor, Olusegun Obasanjo (OBJ), Ibrahim Badamasi Babangida (IBB), Professor Jerry Gana (PJG), Alhaji Atiku Abubakar (AAA) and their likes, including foot soldiers.

These old, I dare say, disused leaders, who are supposed to be the guiding light for the nation’s development, have now been exposed by the providence as irritants, pursuing personal interests and other interests that have nothing to do with the interest of the nation.

OBJ, who has since assumed the position of ‘monitor’, dictating who should be the President and who should not, and for how long such person should remain as President, has continued to cling to Nigeria as if without him Nigeria cannot stand as a country. He is now famous for writing letter condemning the reigning President, after hailing such President to power at initial stage. To him, no person should or can do two terms in office as President, just as a way of proving that after him, no one is good enough to right the wrongs of the country beyond one term.

The reputation of IBB has obviously tumbled down from being a Maradona, through dribbling everybody, to the point where he was dribbled out of office, and ever since, has been seeking for political relevance by joining force with OBJ to decide what Nigeria and Nigerians should be in their mind eyes. In most cases, it is in his Hilltop mansion in Minna, the Niger Sate capital that others like him gather every four years when the elections are approaching, to try to redesign Nigeria of their dream or choose the President they are happy with.

Professor Jerry Gana, on his part, has always made sure that he is properly placed to benefit from where the bread is buttered. It doesn’t matter if in grabbing the bread Nigeria is thrown into the Atlantic Ocean. He is so desperate about floating in the air with enormous resources that it doesn’t matter to him who is in the leadership saddle.

As a matter of fact, Gana has been seen as a dangerous reptile that infiltrates other people’s religions just so as to destroy the country, while he plays an Ostrich game. History is indeed, developing around this attitudinal disposition of his, which will one day manifest.

Alhaji Atiku Abubakar’s ambition to become the President of this country has obviously ran him mad, so much that he is not only amassing mad and unquantifiable wealth, but embarks on destroying anyone, just anyone that stands between him and fulfillment of such vaulting ambition. Stories are going round, and may soon become public about the deadly role he allegedly played in the ill health that took President Muhammadu Buhari out for several weeks on medical attention in London.

It is on record how he also played dangerous political game against his erstwhile boss, Olusegun Obasanjo, with whom, ironically, he is in the same dangerous political camp now.

And, now, T.Y Danjuma’s declaration of war, by urging his Taraba State people to take arms against the arm bandits and the Nigerian soldiers, surprised many of  his admirers, including yours sincerely. The unfolding facts and his recent alignment with such deflated leaders as IBB and OBJ, have proved that he has all along been a wild and dangerous hyena walking the streets in sheep’s clothing.

Information has it that before he shamelessly asked his tribesmen to take up arms against other Nigerians and the military officers, he and his cohorts have already ordered or in possession of large cache of sophisticated weapons, to be distributed to his army; these are the children of the poor in Taraba, who he never gave any succor in their hours of genuine needs, even as he ferries his over-pampered children and family out of the trouble zones into Europe to enjoy the mansion and Nigerian money he stashed away there.

These handful Nigerians, who are supposed to be grateful  to the country for the opportunities offered them to be what they are today, and join hands with the leaders in the saddle to correct the mistakes they made or blunders they committed in the past that has led the country down this shameful abyss, have instead constituted themselves into an institution simply to chase away any leader after them that fail to tow their defined lines or who dares to mess up with their interests and their investments.

The baffling thing is that retired General Yakubu Gowon, who is supposed and actually qualified to be regarded as father of the nation; a gentleman to the core, who at the age of 32, led the country through the 30-month civil war to keep Nigeria one and united; a man who is well educated (with PhD) and highly intelligent, has remained quiet while these ‘busy body’ past leaders continue to ride on the back of tiger as if without them, there would be no Nigeria. Dr. Yakubu Gowon has maintained his dignity and organized Prayer Group (an NGO) to continually pray for peace to reign in the country, believing in the truism that every leader has his focus, different from any other one, on how to move the country forward.

In fact, the America, whose system of democratic government Nigeria has been trying to imitate, has never produced such a scenario in which the past leaders keep dictating to the reigning President on how to develop the country. Since Ronald Reagan, Senior and junior Bush, Bill Clinton and recently, Barak Obama left white House as Presidents, we have never heard any of them writing letter or even addressing news men or issuing statement on what President Trump is doing, whether it is right or not right. That is in spite of the numerous political somersault President Trump had made.

It is really ironic that IBB and OBJ in particular, who tried and sweat profusely to cling to power for life, are the same that are breathing down the neck of every other President that ascended the leadership, pronouncing them failures and offering to bring another person to lead.

Of course, since these group of parasitic leaders have been identified as the major sociopolitical and economic problems of Nigeria, there is need to find solution to their antics, and if it were not that we are in democracy, where even the lunatic has a say, it would have been convenient for one to suggest Jerry Rawlings formula for the country to breath fresh air.

Too bad we have to continue to live with them and their blind supporters.[myad]

Danjuma: When Truth Becomes The Enemy, By Musa Simon Reef

On 24th March, 2018, former Defence Minister, General Theophilus Yakubu Danjuma (retd), called on defenceless Nigerians to stand up against murderous attacks from armed bandits in the country. Apart from accusing the nation’s Armed Forces of colluding with these armed bandits that have left trails of blood and hair-rising destruction in various states of the federation, the retired military officer called on Nigerians to defend themselves.

Danjuma’s call was coming on the trail of the Dapchi saga that left several questions unanswered in the manner no fewer than 110 students were abducted, and about 104 returned by a faction of Boko Haram. Various reactions to Danjuma’s call by Nigerians only serve to reveal the underbelly of a nation incapable of rising up in unity to confront a collective tragedy.

Hate or love him, the Mambilla General epitomises the leadership of non-core Northerners. For several years, he was the figure behind rallying the Northern minorities for political engagements. In him, most, if not all, non-Muslims of Northern extraction won’t dare to challenge his concern for the descendants of Pastor David Obadiah Vrengkat Lot and ace-politician Joseph Sarwuan Tarka in forging the Middle Belt dream.

Nearly three years after President Muhammadu Buhari assumed reins of power, Benue State has become a theatre of constant bloodshed that later became the global cynosure of suspected herdsmen’s brutalities, following the burial of 73 state indigenes killed by the murderous gang. The peace on the Plateau is still fragile, just as the southern axis of Kaduna state has become a zone for intermittent massacres. Adamawa state has not been spared the excesses and agony of armed bandits’ killing spree. Taraba that was once peaceful has become a theatre of killings, with each side in the conflict claiming victimhood. What can one say of Nasarawa State? Its border towns and of late, Kogi state, that have been caught in the fray against their will. Where there is no war, tension now holds sway. For now, the atmosphere has become so thick and cloudy, threatening to rain blood and death.

For many, including yours sincerely, the former Defence Minister’s call is not novel. In the heat of the Boko Haram crisis in 2014, the Emir of Kano, Muhammadu Sanusi II, had called on Nigerians to brace up for self-defence. Prominent Nigerians, including Professor Itse Sagay and Chief Femi Fani-Kayode, among others, have called on Nigerians to rise up for self-defence. Quoting relevant sections of the constitution, they have declared that the right to self-defence is enshrined in the country’s constitution.

For the reticent General, who has been a major player in events that have shaped the nation, his call has re-awaken the ghost of the past and the role he played in the murder of General Johnson Aguiyi Ironsi. Those who are still pained by the gory details of that bloody coup have simply dismissed Taraba-born General as bereft of moral grounds.

For those who see nothing wrong in the current campaign to decimate local communities through what has become known as herdsmen/farmers’ clashes, Danjuma should be charged for inspiring insurrection. Considering his status as a statesman, they reason, he ought not to have said what he said. Some simply alleged that he has become so broke and unhappy under the present government headed by President Buhari and is therefore venting his pent-up anger.

For those conversant with the personality of this one-time Chief of Army Staff, his outburst at the maiden convocation of the Taraba State University is consistent with his character. Not a flippant speaker, but when he speaks, he ruffles feathers. He hates politics and deceit and cannot afford to speak tongue in cheek. He has taken so much heat for the North, and those close to him are quick to tell you that he is at pains over the happenings in the North, and more stymied at the absence of urgency in tackling the menace of armed bandits. Danjuma is not someone you can reduce to an ethnic or religious bigot. Little wonder he holds a traditional title of the Zauzau Emirate.

In the contraption of attacks against the reired General, none has faulted his message that Nigerians are under attacks from armed bandits. What some have expressed concern is in the manner he sent the message. Some have alleged that because the ODI and ZAKI Biam killings by the state when he served as Minister of Defence, he stands bereft of any moral high ground to say what he said.

To those disagreeing with the former army boss, it is okay for defenceless Nigerians to go on their knees as rampaging armed bandits slit throats of men and women, behead them, rape their women and turned their thriving communities into rubbles of horrifying inferno. To some pro-Buhari groups, social media hawks and analysts, the former Defence Minister must be sacrificed for daring to speak on an issue that has the potentials of balkanizing Nigeria. In painting Danjuma as an enemy of the Buhari Government, they fail to realize that the retired General contributed financially for the emergence of ‘Sai Baba’ in 2015.

In the heat of Boko Haram insurgence in the North-east, the Civilian JTF groups were formed in Borno and Adamawa states to assist the military tackle the matter. IDP camps were also established to cater for the needs of the displaced. The questions are: Why is the military opposed to the formation of Civilian JTF to complement the workings of the Armed Forces in most of the North-central states affected by herdsmen attacks?  Why is there no single IDP camp in the southern part of Kaduna state after the killings of several hundreds by suspected herdsmen?

For those alleging that the former Army Chief was calling for ethnic insurrection, I am yet to know which ethnic group is known by the appellation of ‘armed bandits.’   For alleging that the nation’s Armed Forces are colluding with these armed bandits, it is left for the relevant authorities to probe these allegations in order to unravel the truth.  Attacking Danjuma and labeling him with epithets that are denigrating does not take away the substance of his declaration.

Danjuma’s assertion has shown that the House, once built by Sardauna, is seriously harangued by forces threatening to destroy its fragile unity. The controversy over the Danjuma’s comments stems from our inability to accept and walk through the dark tunnels of truth. A society that terrorizes the bearer of truth and at the same time rewards agents of terror has a long way to go in ensuring justice for its citizens. For a nation that abhors speakers of truth, the man who speaks the truth becomes the enemy that should either be maligned or crushed or made a laughing stock.

Former President of United States of America, Joseph F Kennedy, once said, “A nation that is afraid to let its people judge its truth and falsehoods in an open market is afraid of its people.” When a nation enthrones double standards against its own citizens, the silence of those who matter becomes a betrayal.

For those who think the current challenge of insecurity will fizzle out; they sure are thinking wrongly. For the current killings to be stopped, we must accept the fact that we are faced with a greater problem that is complex than it seems. We must be willing to accept the truth and walk the painful requirements in retrieving our nation from agents of terror whose exploits have placed our nation on the cliff.

 

Reef is editor-in-chief of Forefront, and can be reached on: simonreef927@gmail.com. [myad]

2019: Obasanjo’s Coalition In Secret Move To Discredit INEC, Install Interim Govt

Chief Olusegun Obasanjo

Information reaching us at Greenbarge Reporters indicates the secret move being made by the Coalition of Nigerian Movement (CNM), floated by the former Nigerian President, Olusegun Obasanjo, to discredit the Independence National Electoral Commission (INEC) and cause electoral confusion that will eventually lead to the installation of an Interim Government in 2019.

Investigation by our team of editors shows that already, millions of copies of a one-page coloured form are being distributed across the country, especially in the North, to women, deceiving them that the form is for a body that is set to empower them.

It was discovered that the form, which has no forwarding address and information on what they represent, has in one of the lines, provision for information on PVC number which the unsuspecting applicant is expected to fill. It was learnt that information on PVC, when provided, will be used to hack into INEC system or destroy votes cast by the unsuspecting would-be beneficiaries of the phony empowerment.

When one of our team of investigating editors put a call to one of the phone numbers on the form, the computer responded that such number was never allocated, even as the second number kept saying: ‘this number is engaged.’

We gathered that the Coalition is so desperate to make sure that President Muhammadu Buhari doesn’t come back for his second term if he wishes to do so, that the organizers would do anything to cause electoral confusion to justify their claim that the President is no longer popular.

Information from the security agencies which showed that they are fully aware of the nocturnal plans of the Coalition group, confirmed our findings. [myad]

Gov Wike Is Live Wire Of PDP, Atiku Confesses: Declares To Run For Presidency In 2019

Former Vice President of Nigeria, Alhaji Atiku Abubakar has formally declared, in Port Harcourt, capital of Rivers State, his intention to run for presidency in the 2019 general elections on the platform of the Peoples Democratic Party (PDP), acknowledging that he chose to make the declaration in Rivers State because Governor Nyesom Wike is the live wire of the party.

A report monitored on Channels Television said that Atiku Abubakar was in Rivers State with some of his supporters, including a former National Chairman of the PDP, Okwesilieze Nwodo, a former governor of Ogun State, Gbenga Daniel, a former Attorney-General and Minister of Justice, Michael Aondoakaa, and a former senator, Abdul Ningi.

Atiku was quoted as saying that since the All Progressives Congress (APC) came to power about three years ago, it had destroyed all the major sectors, especially education, health and infrastructural sectors through inadequate budgetary allocations and releases.

“Since 2015, we have not seen a 100 kilometres road constructed by the APC federal government anywhere in the country. I have never seen Nigeria so divided along religious, ethnic and regional lines, as a result of the mismanagement of the APC.”

Governor Wike was said to have denied that he is the live wire of the PDP, saying that all genuine members of the PDP were its live wire even as he said that Atiku  Abubakar has remained one aspirant that is being feared by the APC.

The governor said the PDP is prepared to oust the APC from power in order to rescue Nigeria from the maladministration foisted on it by the Buhari administration, adding  that the chances of the PDP in the 2019 elections are bright.

He called on the PDP members not to jeopardize those chances, saying: “every presidential aspirant must see himself as a member of the larger PDP family,” he said.

“We must do everything to ensure that PDP returns to the Presidential Villa in 2019.

“Only one aspirant will become a candidate. We will do everything to ensure that the party comes out with a candidate that has a track record to upstage the APC.” [myad]

NNPC Questionable N37.76 Billion Revenue Tears Fed Account Allocation Committee Apart

The Federal Account Allocation Committee (FAAC) meeting with the 36 States today, Tuesday, ended in deadlock as a result of what were observed to be discrepancies in N37.76 billion in revenue which the Nigerian National Petroleum Corporation (NNPC), presented.

Accountant-General of the Federation, Ahmed Idris told newsmen in Abuja shortly after the meeting that the meeting was inconclusive because of irregularities in figures presented by the NNPC.

“Obviously, you are all aware that anything that has to do with federation revenue is statutory and, therefore, constitutional and we must always verify our figures to the last kobo. Failing to do so will amount to committing illegality and unconstitutionality.

“It is on this note that we observe some issues in the figures given by one of the major revenue generating agencies namely the NNPC.

“The committee is of the opinion that until and unless these figures are reconciled, corrected, verified and factual; we cannot distribute the revenue as the case is.

“Let me again be quick to inform Nigerians that we are sensitive with the issue and to the fact that state governments may find it difficult without this money.

“But we have to follow the constitution and the laws for distribution of revenue,’’ he said.

Also, the Chairman, Forum of FAAC Commissioner, Mahmoud Yunusa, said the forum rejected the amount presented by the NNPC because it was far lower than what was projected for the month.

He argued that if the NNPC could not surpass what they presented in February, then they should not present anything less than what they presented the previous months.

“We started this meeting last week and NNPC did not submit their figures until yesterday (Monday), which we were not able to review until this morning.

“This morning when we were reviewing the figures as presented by the NNPC, it came as a great surprise to see that the amount was less than N100 billion.

“So we (states) decided that we will not collect the amount presented,

“We are contesting the figures because pipeline vandalism has reduced, while crude oil prices have continued to go up.

“On this note, we are wondering why the nation cannot raise enough money through that sector to share to states so that everyone can pay workers, contractors and so on.

“We are well aware that this development may affect the payment of salaries in states, but we cannot hurriedly accept this money and then later cry foul play.

“So, we should all be patient. But we hope that with this latest development, NNPC will do the needful as soon as possible,’’ he said.

Meanwhile, in a document obtained by the News Agency of Nigeria (NAN), the NNPC paid in N74.06 billion into the federation account as oil revenue generated in the month of February, to be shared in March.

“Compared to the collection of N111.84 billion in Jan. 2018, the February collection of N74.06 billion is lower by N37. 76 billion or 33 per cent.

“We were unable to meet the approved budget as a result of low collection from Concession Rentals and Petroleum Sharing Contracts (PSC) Royalty.

“We wish to note that the sum of N30.5 million for the Misc Oil revenue and N6.11 million for Gas Flared are on transit at the end of Feb. 2018.

“Furthermore, we received 16. 56 million dollars out of the 85.94 million dollars expected from PSC and MCA lifting for the month under review, therefore leaving 68.65 million dollars as outstanding,” NNPC said. [myad]

Benue Communal Crisis: I Don’t Have Misunderstanding With President Buhari – Gov Ortom

Governor Samuel Ortom of Benue state has said that he had never had any misunderstanding with President Muhammadu Buhari and security agencies at the height of the herdsmen/farmers clashes and resultant death of many.

He stressed: “I am APC Governor and the President is APC. We have always been meeting and I have said very positive things about the President before and I have not retracted what I said.

Governor Ortom who spoke to news men shortly after an audience with President Buhari at the Presidential Villa, Abuja today, Tuesday, said: “the fact is that I have a challenge at hand and needed to stay with my people to be able to surmount this because they are the people that elected me.

“And Benue people first before any other thing. I have not had any strained relationship with the federal government. I had no strained relationship with security agencies, not even with security agencies and that was the point I was making.

“But all I was saying is trying to add value to the security of the nation by bringing my suggestions as a former local government chairman, former minister and now current serving governor.

“I think I have something to add to the security architecture of this country that can add value and help us to do better than we are doing. There is always room for improvement in any setting or organization by buying from one person to the other because nobody has monopoly of knowledge.

“We must synergize; we must corporate with one another and so, when you neglect this, and you have tragedy like the one you have in Benue State, it is not good enough. And people must be willing to accept pieces of advice, especially superior opinions that can help shape and add value to the development of our system.”

He said that he was in the Villa to thank President Buhari for the condolence visitor to Benue State after the killings and to also intimate him of where the situation is now.

“I am here to also remind him about the request of Bernie people when he paid that visit and to assure him that Benue remains committed for united Nigeria and to work with him in ensuring that we collaborate with the Federal Government to provide security for lives and property in Nigeria.”

Governor Ortom said that he also intimated the President about the plight of over 175,000 IDPs that are in eight camps, adding that such IDPs have expressed their desire to go back home.
“And Mr. President is very passionate about their plight and has assured me that government will swing into action to ensure that rehabilitation is done to those homes that were displaced.

“If they go back home, where would they go and live when their houses were destroyed? That assurance has been given and he will also look at the other issues that we brought before him.

“It is quite assuring that it will be well and I want to thank the President for the support he has shown. I know that this crisis did not just start during his tenure; it precedes this government. “When I was serving as minister, my ancestral home was destroyed, 53 people were killed and this was in 2013 when Mr. President was not yet here. But I think that what is important is the NEC sun-committee headed by the Vice President which is doing the needful.”

“I believe that the meeting we held and the subsequent ones that we are going to hold will definitely proffer a solution to this perennial problem and we sought it out ones and for all. But we remain committed to our people and our ranching law and I believe that that is the way forward.” [myad]

Central Bank Of Nigeria, Again Intervenes In Forex Market With $210 Million

CBN-Office-Abuja

The Central Bank of Nigeria (CBN) has again intervened in the inter-bank sector of the Foreign Exchange market to the tune of $210 million.

Figures obtained from the Bank today, Tuesday, indicate that the Wholesale sector of the market got a boost of $100 million, while the Small and Medium Enterprises (SMEs) and invisibles sectors were each offered $55 million.

The Acting Director in the Corporate Communications Department of the apex Bank, Isaac Okorafor, said that the interventions were in continuation of the Bank’s commitment to maintain stability in the market as well as enhance production and trade.

Okorafor said that the monetary regulator was pleased with the cooperation by players in the inter-bank market, which he noted had enjoyed a great deal of stability and seamless access of customers to foreign exchange following regular interventions by the CBN.

The bank communications strategist expressed optimism that the first Monetary Policy meeting (MPC) of the CBN billed for early next month will add fillip to the monetary policy activities of the Bank. He therefore urged Nigerians to remain optimistic about the economic outlook for 2018, even as he insisted that the CBN remained people-centred.

It will be recalled that the CBN had last Friday, sustained its intervention in the Forex market by injecting the sum of $339.89 million in the Retail Secondary Market Intervention Sales (SMIS).

Meanwhile, the naira exchanged at N360/$1 in the Bureau De Change (BDC) segment of the market today, Tuesday. [myad]

 

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